Kentucky Bankers Association

Nonprofit profile at a glance

EIN
610244750
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5025822453
Rating confidence
Limited

Official website

Reported finances

Revenue
$5,795,469
Expenses
$5,730,408
Assets
$8,380,362
Liabilities
$1,740,023

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

29 people listed

Executive titles in this filing

  • BALLARD W CASSADY JR (PRESIDENT & CEO)

Highest reported compensation

  • BALLARD W CASSADY JR (PRESIDENT & CEO): $1,885,055 total reported compensation
  • MATT VANCE (CHIEF FINANCIAL OFFICER): $436,116 total reported compensation
  • TIM SCHENK (GENERAL COUNSEL): $368,277 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide effective advocacy for the financial services industry both in Kentucky and on a national level; to serve as a reliable and responsive source of information and education about areas of interest to the industry; and to provide a catalyst and forum for collective industry action.

What it reported doing in 2024

The association markets and facilitates educational products and services to its membership. During the past year the association provided educational services to over 3,000 individuals from more than 150 corporate members through live and distance-learning seminars.the association engages in lobbying activities on behalf of the Kentucky banking industry at both the state and federal level. The association's current membership consists of 150 financial institutions, 135 associate members and 105 bank counsel members.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 89
  • Accountability: 91
  • Sustainability: 38
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 93.3%; rating input score 93; 24th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.1%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 1.46; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 58.6%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 1.3% per year; rating input score 100; 17th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 14 of 15 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.9M · 29 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 5 filed schedules · includes executive pay and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 38/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.